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ETN

Eaton Corporation plc

ETN

Eaton Corporation plc • NYSE
$345.95 ▲ 1.25% (+4.26)
Market Cap $134.37 B
52w High $399.56
52w Low $231.85
Dividend Yield 4.16%
P/E 34.66
Volume 918.45K
Outstanding Shares 388.40M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $6.988B ▼ $1.308B ▼ $1.01B ▲ 14.453% ▲ $2.6 ▲ $1.6B ▲
Q2-2025 $7.028B ▲ $1.341B ▲ $982M ▲ 13.973% ▼ $2.51 ▲ $1.518B ▲
Q1-2025 $6.377B ▲ $1.218B ▲ $964M ▼ 15.117% ▼ $2.46 $1.465B ▲
Q4-2024 $6.24B ▼ $1.121B ▼ $971M ▼ 15.561% ▼ $2.46 ▼ $1.447B ▼
Q3-2024 $6.345B $1.185B $1.009B 15.902% $2.54 $1.471B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $565M ▼ $40.65B ▲ $21.765B ▼ $18.885B ▲
Q2-2025 $584M ▼ $40.507B ▲ $21.86B ▲ $18.647B ▲
Q1-2025 $1.939B ▼ $39.206B ▲ $20.659B ▲ $18.506B ▲
Q4-2024 $2.08B ▲ $38.381B ▼ $19.85B ▼ $18.488B ▼
Q3-2024 $1.994B $39.236B $20.074B $19.117B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $1.011B ▲ $1.351B ▲ $-293M ▲ $-1.115B ▼ $-70M ▲ $1.173B ▲
Q2-2025 $982M ▲ $918M ▲ $-1.723B ▼ $-453M ▼ $-1.379B ▼ $1.065B ▲
Q1-2025 $965M ▼ $238M ▼ $1.233B ▲ $-244M ▲ $1.222B ▲ $91M ▼
Q4-2024 $971M ▼ $1.597B ▲ $-271M ▼ $-1.244B ▲ $82M ▲ $1.342B ▲
Q3-2024 $1.011B $1.309B $511M $-1.853B $-67M $1.126B

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Aerospace
Aerospace
 $970.00M ▲$980.00M ▲$1.08Bn ▲$1.08Bn ▲
Electrical Americas Segment
Electrical Americas Segment
 $2.91Bn ▲$3.01Bn ▲$3.35Bn ▲$3.41Bn ▲
Electrical Global Segment
Electrical Global Segment
 $1.57Bn ▲$1.61Bn ▲$1.75Bn ▲$1.72Bn ▼
eMobility Segment
eMobility Segment
 $150.00M ▲$170.00M ▲$190.00M ▲$140.00M ▼
Vehicle
Vehicle
 $650.00M ▲$620.00M ▼$660.00M ▲$640.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Eaton’s income statement shows a clear pattern of healthy, steady growth. Revenue has climbed each year, and profits have grown even faster than sales, suggesting better pricing, mix, and cost control. Operating and net margins have improved, meaning more of each dollar of sales is turning into profit. Earnings per share have risen strongly over the last five years, helped by both higher profits and efficient capital management. The overall picture is of a mature industrial company that has been able to convert strong end-market demand into steadily improving profitability, rather than just chasing volume.

Balance Sheet

Balance Sheet The balance sheet looks solid and reasonably conservative. Total assets have grown at a measured pace, and shareholder equity has trended upward, indicating that the business is building value over time. Debt levels are meaningful but have been kept fairly stable, suggesting disciplined use of leverage rather than aggressive borrowing. Cash on hand is modest relative to the size of the company, which is typical for an established industrial, but it does mean Eaton relies on ongoing cash generation and access to capital markets. Overall, financial foundations appear sound, with no obvious signs of balance sheet stress.

Cash Flow

Cash Flow Eaton’s cash generation has strengthened notably over the period. Operating cash flow has risen alongside profits, showing that earnings are backed by real cash, not just accounting gains. Free cash flow has also grown, even as the company has modestly increased its investment in capital spending. This combination—rising free cash flow and controlled investment—gives Eaton flexibility to fund growth, service debt, and return capital to shareholders. The main watchpoint is that, as a capital-intensive industrial, Eaton needs to keep investing regularly to support innovation and capacity, but so far it appears to be doing this in a disciplined way.

Competitive Edge

Competitive Edge Eaton holds a strong competitive position with what many analysts view as a wide and durable moat. It benefits from its global scale, well-known brand, and long-standing customer relationships across electrical, aerospace, vehicle, and eMobility markets. Its broad portfolio and service offerings create switching costs for customers, making it harder for rivals to displace Eaton once it is embedded in a project or system. The company competes with other heavyweights like Schneider Electric, Siemens, and ABB, but differentiates itself through integrated power management solutions, deep technical expertise, and a large installed base that supports ongoing service and upgrade revenue.

Innovation and R&D

Innovation and R&D Innovation is a core strength for Eaton. The company is leaning into long-term themes like electrification, digitalization, and sustainability. Its Brightlayer software suite shows how Eaton is turning hardware into smart, connected systems that offer ongoing data and insights to customers. The firm is also investing heavily in electric vehicle components, charging infrastructure, data center power systems, advanced materials, and cybersecurity. A sizable multi‑year R&D commitment underscores that Eaton is not standing still; it is trying to shape future power and energy markets rather than simply follow them. The key question is execution—turning this innovation pipeline into commercially successful, scalable products across its core markets.

Summary

Overall, Eaton looks like a well-managed industrial company benefiting from powerful long-term trends. The financials show consistent growth, rising profitability, and solid cash generation, backed by a balanced, stable capital structure. Strategically, Eaton appears well positioned in attractive markets such as electrification, data centers, aerospace, and eMobility, with a strong technology and software layer that supports its moat. Risks to keep in mind include its exposure to economic cycles, the capital intensity of its businesses, and the need to continually innovate in highly competitive global markets. Even so, the combination of steady financial improvement, a strong competitive position, and a forward-leaning innovation agenda makes Eaton a notable player in the industrial and power management space.

NEWS

November 28, 2025 · 12:00 PM UTC

Eaton Vance Closed-End Funds Release Estimated Sources of Distributions

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November 20, 2025 · 7:15 AM UTC

Eaton Announces the Planned Transition of Executive Vice President and Chief Financial Officer, Olivier Leonetti, Effective April 1, 2026

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November 18, 2025 · 6:45 AM UTC

Eaton to Participate in the UBS Global Industrials and Transportation Conference on December 2

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November 10, 2025 · 4:30 PM UTC

Eaton Ranked #1 on Investor's Business Daily's 50 Most Sustainable Companies for 2025

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November 6, 2025 · 8:33 AM UTC

Eaton Helps Seattle City Light Strengthen Grid Planning to Meet Record-Setting Demand for Electricity

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